Questron Sales, Profits Down
Questron Sales, Profits Down
John Wolz
Questron Technology Inc. reported second quarter 2001 sales slipped 14.5% from the same period last year to $36,015,537. Profits fell 44% from the second quarter of 2000 to $3,449,155 this year.
“While we are pleased with out new business opportunities, weak economic conditions continue to negatively impact revenues from mature customer accounts and slow the rate at which new accounts ramp up,” CEO Dominic Polimeni said.
Polimeni reported that the industrial products segment had a “moderate increase,” but the high-tech sector “continued to decline.”
Questron has taken steps to offset the economic slowdown, including staffing levels, consolidating faclilities and cutting discretionary spending, he added. Web: questrontechnology.com �2001 FastenerNews.com
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